24/7 Market News Snapshot 26 December, 2024 – Hoth Therapeutics, Inc. Common Stock (NASDAQ:HOTH)

December 26, 2024

DENVER, Colo., 26 December, 2024 (247marketnews.com) – (NASDAQ:HOTH) are discussed in this article.
Hoth Therapeutics, Inc. (NASDAQ:HOTH) is experiencing notable stock activity as it opened at $0.81 and currently trades at approximately $0.742, reflecting a decline of 5.72% since its previous close at $0.787. The trading volume for today has reached 7.19 million shares, indicating increased investor engagement and potential market volatility. Key technical indicators suggest that investors should monitor support around $0.70 and resistance levels close to $0.80. Should the downward trend continue, Hoth may seek to explore further declines, while a rebound could aim for previous session highs.

In tandem with its fluctuating stock performance, Hoth Therapeutics has made a landmark advancement in combating obesity through an exclusive patent license agreement with the U.S. Department of Veterans Affairs (VA) and a collaborative effort with Emory University. This agreement grants Hoth exclusive rights to a groundbreaking patent portfolio focusing on Glial Cell Line-Derived Neurotrophic Factor (GDNF) and its applications for addressing obesity-related health issues.

The partnership enables Hoth Therapeutics to develop, market, and commercialize innovative solutions stemming from this advanced technology. The VA and Emory University are committed to ensuring that these breakthroughs can be widely accessible, which aligns with Hoth’s mission of driving transformative healthcare solutions.

Robb Knie, CEO of Hoth Therapeutics, highlighted the significance of this collaboration, stating, “We are honored to partner with the VA and Emory University to propel this technology into the market. This is a pivotal moment for our company as we strive to deliver science-driven solutions to combat obesity and enhance patient quality of life.”

Moreover, Hoth is expanding its intellectual property portfolio with plans to acquire additional provisional patent protection for its lead therapeutic, HT-001, strengthening its market positioning in cancer therapeutics. This strategic progress underlines Hoth Therapeutics’ dedication to transforming scientific advancements into practical healthcare solutions, aiming to make a significant impact on patient outcomes.

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